PG&E Co. (NYSE:PCG) CEO Sells $1,007,720.00 in Stock

PG&E Co. (NYSE:PCG) CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The transaction was disclosed in a filing with the SEC, which is available through this link.

PG&E Price Performance

PG&E stock opened at $17.57 on Friday. PG&E Co. has a 52 week low of $14.71 and a 52 week high of $18.32. The company’s 50 day moving average price is $16.65 and its two-hundred day moving average price is $16.94. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. The stock has a market cap of $37.55 billion, a P/E ratio of 15.69 and a beta of 1.26.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The company had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. During the same quarter last year, the business posted $0.29 EPS. PG&E’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. PG&E’s payout ratio is currently 3.57%.

Institutional Investors Weigh In On PG&E

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of PG&E by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock worth $4,329,416,000 after purchasing an additional 21,731,911 shares during the last quarter. FMR LLC increased its stake in shares of PG&E by 2.4% during the 3rd quarter. FMR LLC now owns 176,029,931 shares of the utilities provider’s stock worth $2,839,363,000 after purchasing an additional 4,044,631 shares during the last quarter. Capital International Investors grew its stake in PG&E by 7.1% in the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock valued at $2,093,198,000 after buying an additional 7,681,566 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PG&E by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 84,516,243 shares of the utilities provider’s stock valued at $1,523,828,000 after buying an additional 993,923 shares in the last quarter. Finally, Third Point LLC grew its stake in PG&E by 1.8% in the 4th quarter. Third Point LLC now owns 57,860,000 shares of the utilities provider’s stock valued at $1,043,216,000 after buying an additional 1,000,000 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PCG. JPMorgan Chase & Co. increased their price objective on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on shares of PG&E in a research report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target on the stock. Barclays raised their price target on shares of PG&E from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.